A gentleman with a TikTok account titled @greenthumbgotbands has figured out a way to beat the system, and he's proud to share his trick with the public. While wading in a swimming pool, the Trumplike entrepreneur shows off a fancy wristwatch, flashes a stack of American Express cards, and launches into his technique:
"What if I told you there was a way to buy things like this $100,000 watch, without spending a single dollar of your money using business credit like this, that you never actually had to pay back?" he says, already making it clear that he is the kind of person who doesn't keep his word. "Now, to the average person, guys, this sounds crazy. But any business owner knows how this works. You know how personal credit works. Let's say, for example, you get a car or credit card and your personal name, you're personally held responsible for that."
That's the way credit works. If you buy something, you are expected to either pay for it upfront or use someone else's money with the promise to pay it back.
"So if you were to go get a credit card in your personal name, and you were to go max the card out, you're going to be held liable. And if you don't make that payment back, the bank could come and sue you."
No argument there.
"What makes this different about business credit, is with business credit, you are not personally held responsible for that line of credit."
I'm not a CPA but I don't think this holds true when your goal is to defraud the card issuer.
"So let's say, for example, how I got this watch, I was able to open a business that I didn't really give a shit about."
Ding ding ding — fraud alert! Opening a business just so you can abuse credit is illegal.
"I went and opened business credit cards in that account. I then proceeded to go and buy this [watch] for $100,000. I'm going to turn around and sell it to a jeweler for $80,000 in cash, which now gives me the cash. I'll file bankruptcy on the company."
The prosecuting attorney is going to love this video.
"I'll never have to actually pay it back. Because I'm not personally liable for that American Express card. It's all liable underneath my business."
I imagine the fine print on the American Express contract says otherwise. [Update: it does.]
"It's all weird to explain in one video, but guys, if you're interested to get involved in this and you could use some extra easy money now. I want you to go to Instagram and my bio and go ahead and DM me. And unlike these corny gurus, I actually get money with this shit guys, so I'm not going to charge you to learn."
Follow his advice and maybe you can become his bunkmate!